What skills do you need to become a stockbroker?

If you would like to become a stockbroker there are several key skills that you will need to be a success. Stockbroking is a very competitive industry and only those who are at the top of their game will reach the pinnacles of the profession and earn the vast remuneration that is on offer. So, what are the skills and qualifications that will help make you a great stockbroker?

Communication
Being able to communicate effectively is an essential part of being a stockbroker. When you are dealing with large transactions that involve millions of pounds each, one false communication could prove costly.

Self Motivation
A stockbroker must be self motivated. In such a competitive environment those lacking self motivation and determination will soon begin to fall behind. This will lead to employers looking at your performance and maybe evaluating your position in the company. This has been particularly prevalent in recent years with the cutbacks being made in the industry due to the tougher financial times that we are currently facing.

Analytical Brain
In order to succeed as a stockbroker you will have to be able to analyse information and act on your findings. Much of the art of being a stockbroker is spotting patterns and trends. Once you have spotted a trend you need to be able to effectively decipher that information to make an informed decision. Do this well and you will make your company a hefty profit, do it poorly and you could be looking at a loss.

Fitness
A certain level of personal fitness is required to become a stockbroker. A stockbroker works long hours and is a stressful job. This two factors combined can take a toll on your health if you are not fairly fit, which could lead to you having to take time of work to recuperate and therefore cost you money.

Academic Qualifications
The stockbroking industry is different to how it was twenty years ago. Gone are the days where you could leave school without qualifications and start as a “tea boy” and work your way up to being a stockbroker. Today more often than not only those with a degree in economics, finance or business from a top quality university are considered for jobs.

The above skills and qualifications are just a few that are required in order to become a stockbroker. If you have a good balance of the afore mentioned skills you will be able to apply for stockbroker jobs and could soon find yourself on the way to a very lucrative career.